McKesson Corporation (NYSE:MCK) Receives $973.44 Consensus PT from Brokerages

Shares of McKesson Corporation (NYSE:MCK) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $973.4375.

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a report on Friday, August 7th. TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. Wells Fargo & Company raised their price objective on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Finally, Barclays lifted their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th.

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO B Jr sold 111 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 8,875 shares of company stock worth $7,083,441. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of large investors have recently added to or reduced their stakes in MCK. BlackRock Inc. purchased a new stake in shares of McKesson during the second quarter worth about $8,156,743,000. State Street Corp raised its position in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC lifted its holdings in McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. lifted its holdings in McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Norges Bank bought a new stake in shares of McKesson in the 4th quarter worth approximately $1,651,137,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.3%

Shares of NYSE MCK opened at $898.87 on Friday. The stock’s 50-day moving average is $864.58 and its 200 day moving average is $839.74. The stock has a market cap of $104.80 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.81 and a beta of 0.30. McKesson has a 1-year low of $687.68 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.